Marcus & Millichap Arranges The Sale Of A 12-Unit Apartment Building in Jersey City, NJ

Jersey City, NJ, May 17, 2022 -- Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 404 Stegman, a 12-unit apartment property located in Jersey City, NJ, according to James McGuckin, regional manager of the firm's New Jersey office. The asset sold for $2,275,000.

Jonathan Zamora, an investment specialist in Marcus & Millichap's New Jersey office, had the exclusive listing to market the property on behalf of the seller, a private investor. He also secured an all cash buyer, a private investor.

The building is located at 404 Stegman in the West Side of Jersey City. It was built in 1929 and sits along the Light Rail station.

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.